Tounjian Advisory Partners LLC Makes New Investment in Altria Group, Inc. (NYSE:MO)

Tounjian Advisory Partners LLC acquired a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 49,598 shares of the company's stock, valued at approximately $2,977,000.

Several other hedge funds also recently modified their holdings of the stock. Csenge Advisory Group increased its position in shares of Altria Group by 29.1% during the 4th quarter. Csenge Advisory Group now owns 54,684 shares of the company's stock worth $2,859,000 after purchasing an additional 12,320 shares during the last quarter. Truist Financial Corp grew its stake in shares of Altria Group by 27.6% in the fourth quarter. Truist Financial Corp now owns 2,418,074 shares of the company's stock valued at $126,441,000 after buying an additional 523,146 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Altria Group by 40.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 70,826 shares of the company's stock valued at $3,703,000 after buying an additional 20,309 shares in the last quarter. First Merchants Corp increased its holdings in Altria Group by 56.1% during the fourth quarter. First Merchants Corp now owns 27,983 shares of the company's stock worth $1,463,000 after buying an additional 10,058 shares during the last quarter. Finally, WealthCare Investment Partners LLC raised its position in Altria Group by 2.0% during the fourth quarter. WealthCare Investment Partners LLC now owns 19,913 shares of the company's stock worth $1,046,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Stifel Nicolaus upped their target price on shares of Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Altria Group in a report on Tuesday, April 1st. UBS Group boosted their price target on Altria Group from $46.00 to $47.00 and gave the stock a "sell" rating in a research report on Wednesday, April 30th. Finally, Needham & Company LLC upgraded Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Altria Group presently has an average rating of "Hold" and a consensus target price of $56.00.

Altria Group Stock Performance

NYSE MO opened at $59.25 on Monday. The stock has a market cap of $99.80 billion, a PE ratio of 9.05, a P/E/G ratio of 2.89 and a beta of 0.60. The firm has a 50-day moving average of $58.45 and a 200-day moving average of $56.02. Altria Group, Inc. has a 52-week low of $43.83 and a 52-week high of $61.26.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business posted $1.15 earnings per share. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's payout ratio is 68.34%.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.

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